Entergy (NYSE:ETR) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Entergy (NYSE:ETR) issued its quarterly earnings data on Thursday. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08, Briefing.com reports. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the business earned $3.27 EPS. Entergy updated its FY 2024 guidance to 7.150-7.350 EPS.

Entergy Stock Down 6.5 %

NYSE:ETR traded down $9.99 on Friday, hitting $144.79. The stock had a trading volume of 3,829,226 shares, compared to its average volume of 1,598,875. The company has a market cap of $30.96 billion, a PE ratio of 17.80, a P/E/G ratio of 2.54 and a beta of 0.74. Entergy has a 52 week low of $94.85 and a 52 week high of $156.85. The business’s fifty day moving average is $129.20 and its 200 day moving average is $116.82. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81.

Entergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a dividend yield of 3.32%. Entergy’s dividend payout ratio (DPR) is currently 58.47%.

Insider Transactions at Entergy

In related news, COO Peter S. Norgeot, Jr. sold 11,472 shares of Entergy stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the completion of the sale, the chief operating officer now owns 37,888 shares of the company’s stock, valued at approximately $4,363,182.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.16, for a total value of $1,321,115.52. Following the transaction, the chief operating officer now owns 37,888 shares in the company, valued at $4,363,182.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew S. Marsh sold 19,200 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $120.35, for a total transaction of $2,310,720.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,140,475.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,810 shares of company stock valued at $6,140,626 over the last ninety days. 0.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ETR has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price objective on Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, August 12th. KeyCorp raised their price objective on Entergy from $143.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday. Argus raised Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. Royal Bank of Canada increased their target price on shares of Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Guggenheim boosted their price target on shares of Entergy from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.96.

Entergy Company Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.